Stocks experienced a downward trend on Tuesday morning after two major indexes achieved record highs on Monday. There were significant movements from companies like Palantir Technologies (PLTR) and Visa (V) in the stock market.
The S&P 500 saw a 0.2% decrease after reaching a record high on Monday, marking the 40th record close of the year so far. Similarly, the Nasdaq composite also dropped by 0.2% and fell below the 18,000 level. The Dow Jones Industrial Average remained flat following its all-time high close on Monday, which was the 30th record close of 2024. Conversely, the small-cap Russell 2000 saw a nearly 0.2% increase.
Trading volume was higher on the New York Stock Exchange but lower on the Nasdaq compared to the same time the previous day. The 10-year Treasury yield recorded a five basis points increase to 3.79%, while crude oil prices rose by 2.1% to $71.84 a barrel.
In terms of housing, the July unadjusted S&P CoreLogic Case-Shiller home price index showed a 5.9% increase, as anticipated. This index monitors monthly changes in real estate values across 20 metropolitan regions in the United States.
Stock Market Today highlighted that Palantir Technologies experienced a 3.4% decrease after hitting a 52-week high on Monday. On the other hand, Tesla (TSLA) gained 0.6%, continuing its upward momentum. Visa (V) faced a 3.9% drop following reports of a potential lawsuit from the US Justice Department for allegedly monopolizing the US debit card market.
In other news, Salesforce (CRM) saw a 1.2% increase after an upgrade from Piper Sandler, while BioNTech (BNTX) rose 2.6%. Lowe’s (LOW) also gained 1.1% after being upgraded by Oppenheimer.
Chinese stocks such as Alibaba (BABA), JD.com (JD), and Baidu (BIDU) experienced upward trends after China’s central bank announced stimulus measures.
Overall, the stock market displayed a mix of ups and downs with notable movements from various companies across different sectors.
